Petrotrin refinery shut down

[antlind]

Ultimately what does this mean for Trinidad?

More unemployment
More crime
Hopefully we get an efficiently run and profitable refinery as a by product.

[K74T]

Refinery to close

‘Petrotrin buying oil to process not profitable’



THE Government has decided to shut down the refinery of State oil company Petrotrin.

The country can no longer afford to continue to refine oil and lose billions of dollars in this process, a senior Cabinet source told the Express yesterday.

The company will instead be expanding its operations in oil exploration and production, the source said.

The source said Oilfields Workers’ Trade Union (OWTU) president general Ancel Roget was told “in no uncertain terms that the major restructuring at Petrotrin will be that Trinidad and Tobago would be moving out of the refinery business because it does not have oil to refine”.

https://www.trinidadexpress.com/news/local/refinery-to-close/article_faf45b62-aa63-11e8-be3c-bf344ccb5418.html

[neilsingh100]

Where will we be importing refined products from? Hope it is not Venezuela.

[The_Honourable]

I sense that there is nothing more really to add or takeaway from the countless discussions on the topic of Petrotrin and its future. So to summarize here is a very brief snapshot of the current position:

1. The current and past governments are to be blamed for Petrotrin's current position.
2. The management of Petrotrin both past and present is to be blamed for the current position.
3. The non-management employees, both past and present of the company (permanent and contract) are to be blamed.
4. The trade union directives both past and present are to be blamed.

FACTS:

1. Petrotrin is in $13B or so in debt.
2. The current operating climate does not improve Petrotrin's debt position.
3. Obvious re-structuring is imminent.
4. Nepotism took place, like WASA, T&TEC and TCL etc etc, there are people who got through with job positions not 100% on academic qualifications but on a 'who knows who' basis.
5. There is a thick cloud of corruption and unethical business practices that currently takes place within Petrotrin.
6. The union kicking up a fuss because they are singing for their supper.
7. Tax payers want value for money and right now, while any right thinking person will obviously empathize and sympathize with the 5,000 current workers with respect to the loss of jobs coming out of the restructure, but the truth is, we have to think of the impact Petrotrin is having on our nation which can affect the lives of over a million people. So its a situation of 5,000 and its dependents vs the rest of the country. The rest of the country must win.

Well said!

[cutthroatInt]

The Rowley PNM might be even more dotish than the Manning PNM. But even with that if you look at the world globally more and more countries are pushing renewable energy harder and harder. Hybrid cars right here in Trinidad are exploding in popularity, if something isn't done soon to diversify our economy we will end up like Haiti one day.

Trinidad is too corrupt to get anything done, I keep hearing PNM supporters at my work saying that oil can't done sell because big oil companies won't allow renewable energy to take over but what these cacaholes don't realize is that these same big oil companies has the resources to invest in the same renewable energy if push come to shove.

And most already invested into renewable. Re BP global

[tr1ad]

Where will we be importing refined products from? Hope it is not Venezuela.

But ah deal sign dan

[nervewrecker]

So where all this oil going to refine now?

Heard talk about some projects in aruba. Not sure if was / is shut down or new plant.

Does guyana have a refinery yet?

[sMASH]

They signed a deal for finished products?

I thought that we would take raw material and process it here...

*staying tuned*

[SR]

Awaits actual details. Express article may be premature

[Redman]

That article that redress posted indicates that smart money is buying refining capacity in the region ..with no feedstock close buy.
It also indicated that 700 people can run a 200,000 BOPD refinery.

The situation today is very manageable....if we bite some bullets.

[Moobs]

Men gotta pass by de hardware today, to purchase supplies...

[sMASH]

Modernized plants don't need much people for day to day running. And if designed well enough, don't need much people for start up or shut downs neither... Algorithms and automation can accomplish a lot. A lot like fly by wire... U tell it where u want to go, and the computers will make all the monitoring and adjustments to Get u there.

[kstt]

Caroni close down. Now we have biofuels.
Train abandoned. Now we need a train system.
Guyana find oil. We closing we refinery.

Will agriculture be an option now?

[ru$$ell]

The traffic to go in from Gasp side horrific,nothing is moving,seems every vehicle is getting searched upon entry.

[infinite_RPM]

They should open back up sugar factory and export ethanol.. lewwe do it like brazil

[sinister_14]

They should open back up sugar factory and export ethanol.. lewwe do it like brazil

We only have brain dead leader here only know to close down and send home workers....

[infinite_RPM]

They should open back up sugar factory and export ethanol.. lewwe do it like brazil

We only have brain dead leader here only know to close down and send home workers....

To be honest e85 if blended down here and exported would be worth a lot.. and sugar cane is something you could use 100 percent of.. no wasted material.. I say open back caroni one time.. hit us a back in times special..

[Redman]

The scale and weather results in us not being competitive in Ethanol.
Those factors make Brazil dominant.
Maybe paper from cellulose baggasse ??
Shutting the refinery down isn't logical....but right sized can work.

[hydroep]

They should open back up sugar factory and export ethanol.. lewwe do it like brazil

We only have brain dead leader here only know to close down and send home workers....

One of the conspiriacy theories is they shut down Caroni because because of its ethanol potential and consequent empowerment of a certain segment of the population.

[hydroep]

Caroni close down. Now we have biofuels.
Train abandoned. Now we need a train system.
Guyana find oil. We closing we refinery.

Will agriculture be an option now?

Makes sense eh, but as I recall from an earlier interview with Guy Smiley most of the Guyanese oil is to be exported.

Plus he claims the Government is moving judiciously with respect to the relationship saying it is their resource and Trinidad has no right to go in there and tell them how to operate. A plausible explanation.

But from what I gather, the Guyanese themselves are wary of doing business with Trinidad because of the same corruption and skullduggery endemic in our industry. They have every right to be cautious...

[Daran]

I'm not a PNM and while I'm sure I won't be happy with the final outcome of this decision. Petrotin was a liability. I'm not an oil and gas man, so I honestly can't say if or what things could/should have been put in place to salvage this.

But, just like almost all of our state run companies. Petrotrin is extremely inefficient and it's hard for me to feel sorry for most of those who will be laid off as I have seen far far too many lazy and overpaid petrotrin employees.

[timelapse]

I glad is PNM close it down , else they woulda be pulling the racism card

[16 cycles]

what time is the address?

[sMASH]

Wait, are they closing petrotrin, or sold it to massey?

[abducted]

[*$kїđž!™]

Whats happening at the gas stations?

[neilsingh100]

Guy in video is clearly uninformed. I hope the majority of the population understand the need to make a business decision and don't buy into the propaganda of the union. The new piece of misinformation is the country now have to pay more to import gasoline which is not true. The fact that we had to sell our gasoline at a loss on the international market proves we could buy at a lower cost.

[bushwakka]

Ultimately what does this mean for Trinidad?

Yawn.....nothing, band launches continue, carnival still on for next year....no rioting
#wejamminstill

[sinister_14]

[Average]

Guy in video is clearly uninformed. I hope the majority of the population understand the need to make a business decision and don't buy into the propaganda of the union. The new piece of misinformation is the country now have to pay more to import gasoline which is not true. The fact that we had to sell our gasoline at a loss on the international market proves we could buy at a lower cost.

Are you willing to correct his mistakes? Inform us please of where he spoke nonsense.